(As of January 1, 2015)
General Negotiable Monetary Lease Terms
Lease Terms Available: | One to Ten Years | ||||||||||
Monthly Minimum Rent: | $2.25 to $3.75 per square foot | ||||||||||
Percentage Rent: | 6% to 8% | ||||||||||
How percentage rent works:Example: Tenant leases a 2,000 square foot store; pays minimum rent of $4,500 per month ($2.25 per square foot x 2,000 square feet = $4,500 per month). Tenant’s lease has a percentage rate of 7%. The Tenant’s “natural sales breakpoint” is $64,286 per month.Tenant’s sales in a month were $110,000; therefore, to calculate Percentage Rent:
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Lease Deposit: | Equal to approximately Two Months of Monthly Minimum Rent | ||||||||||
CAM: | Tenant to pay pro-rata share of Common Area maintenance, property taxes and insurance which currently runs 65¢ per square foot per month (non-negotiable obligation) | ||||||||||
| Example: 2,000 square feet x 65¢ per month = $1,300 per Month | |||||||||||
Promotional Fund Dues: | $2.50 to $3.50 per square foot per year payable monthly | ||||||||||
| Example: 2,000 square feet x $3.00 = $6,000 ÷ 12 months = $500 Per Month for Promo Dues | |||||||||||
All other lease terms will be addressed in our Lease Form.
